APEX Direct With BMW Group Designworks’ Garen Moreno
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Welcome to our conversation series, APEX Direct, where prominent members of APEX share their opinion on some of the more pressing issues in our industry.
With more than 15 years of experience in the business of design, Garen Moreno leverages his environmental and experiential expertise to help companies of today create the customer experience of tomorrow. As director of Strategic Partnering at BMW Group Designworks, Garen leads the development of engagements for the mobility and aviation sector. He helps leading airlines, airframe manufactures and supplier OEMS envision and create the in-flight experience of the future.
Prior to BMW Group Designworks, Garen led an award-winning creative consultancy in Europe. He helped grow the firm to an international brand, specialized in the premium and luxury sector, with an impressive client roster including Aston Martin, LVMH, Hermès, Tiffany & Co., L’Oréal, SEAT and others.
The 50 to 70-year-old demographic is often overlooked when it comes to defining the airline industry’s target customer base. BMW Group Designworks’ director of Strategic Partnering Garen Moreno, who will be delivering one of the keynotes at the Passenger Experience Conference on April 4, suggests that the experienced traveler’s perspective could have a positive impact on premium design.
Air travel is not for seniors. Leave it to us – the younger, agile, tech-savvy travelers to float in our “bubble of me” across the globe.
This message, not as direct but equally as clear, has been represented in advertisements and travel publications over and over again. The perfect thirty-something couple on a beach and the young stylish professional in business class tell us time and time again that premium travel is best experienced at a young age.
Why is this the case? Why, so often, is design, marketing and branding not reflective of the actual high disposable income traveler who is a lot closer to 65 than to 25? In short, senior isn’t sexy…but that is changing.
Here are a few data points to consider. According to Forbes, the 50 to 70-year-old demographic:
- Has more discretionary income (wealth) than any other age group
- Controls 70 percent of the total net worth of American households: $7 trillion of wealth
- Owns 80 percent of all money in savings and loan associations
- Spends more money disproportionately to their numbers
- Accounts for a dramatic 40% of total consumer demand
AGEIST, a company dedicated to promoting an understanding of a redefined life after 50, sees this new group having an inspired curiosity towards life and actively looking forwards, instead of backwards. More importantly, this powerful group of consumers sees air travel as a necessity rather than as a luxury.
This experienced filter on travel tells us all a lot about what is truly meaningful – and we should listen. The experienced traveler’s wise perspective is invaluable for interpreting premium experiences for consumers of all ages. In addition, their purchasing choices trickle down to other generations making their influence even stronger.
The experienced traveler’s wise perspective is invaluable for interpreting premium experiences for consumers of all ages.
BMW Group Designworks has researched the evolution of this influential group through surveys, one-to-one interviews and discussions with thought leaders. The company has identified five key drivers to keep in mind as we design for premium experiences:
- Technology is fully embraced and desired…when meaningful. Let technology enhance the physical experience, not isolate you from it.
- Over-promised brands are over. Bring the uniqueness of the product or experience to the front and more importantly provide a story to tell.
- The bucket list is at the top of the list. Curiosity for life and continued relevance drive everything.
- Living without sharing is not living. Alone time is greatly valued; however, it is more about recharging to take on what is next. What is next is best served with company.
- Comfort is key. Life is too short to not be comfortable.
So, as we work tirelessly to shape the future of air travel, we too have to look forward – not only to the next generation but to those right in front of us forging new expectations of life and particularly life’s premium experiences.
To learn more about the aging traveler, read the story that was originally published in the March/April issue of APEX Experience magazine.